What the experts are saying
CEO of FortuneBuilder and a real estate investor, Than Merrill, observes the effect of technology on the real estate sector. Merrill asserts, “the emergence and growing popularity of cryptocurrency and blockchain will greatly impact transaction times” for real estate entrepreneurs. He also believes that these technologies would empower buyers and sellers of real estate to work swifter than ever before.
In a similar vein, several industry analysts anticipate that technology will disrupt even more real estate investment customs. Dominique Burgauer, CEO of Archilogic, predicts that in the near future “almost every stage of a building’s lifecycle will be managed online. From construction and furnishing to sales and maintenance, the real estate industry will be online.” Burgauer expects that as more Millennials enter the homebuying market, they will not “tolerate the industry as it is today.” The demand for online services will only continue to increase, necessitating the online migration of property investors, landlords, and other market participants.
Another view from Adena Hefets, co-founder and CEO of Divvy Homes, points out how innovation has already revolutionized real estate investing and will continue to push it in new and interesting directions. This innovation, according to Hefets, “will continue to dramatically improve the customer experience – as more real estate companies will apply the immense data they have collected from being in the market to their platforms. This data application will help us better understand the market, helping home buyers negotiate, obtain a mortgage, deal with title issues and escrow, and efficiently remove many headaches that previously plagued the home buying experience.”
Implications for Rental Property Owners
It appears wise for owners to pay attention to the influence technology will have on the future of rental property investing, given that real estate market professionals have all noted the impact technology will have on the future of rental property investing. Now, more than ever, it is crucial to be current with the most recent technological advances. You may remain ahead of major market shifts and continue to maximize the potential of each property by utilizing cutting-edge technologies.
In addition, it can be time-consuming to evaluate each new real estate technology tool as it is introduced and choose the optimal course of action. The option is to employ a reputable management company, such as Real Property Management Freedom, to assist you with the transition. We are part of a national company with the resources to research and adopt the technology rental property owners need to stay profitable and efficient. Contact us online today to learn more.